There's only one downside—wrought iron contains a lot of carbon atoms1, and when these atoms come into contact with moisture, dirt, or grime, rust can quickly form. This means that wrought iron needs regular maintenance to prevent rust from forming, as well as the knowledge required to maintain it properly.
Does forged iron tarnish?
The iron will develop a lovely patina from the wax or oil, combined with use. To prevent iron from 'bleeding' in areas where exposed to driving wind and rain, paint the surface of the iron that will contact the wood.
How do you get rust off of forged irons?
Fill a bucket with warm (not hot) water mixed with dish washing liquid or liquid soap. Soak the clubs for 5 minutes or so and then wipe them with a cloth. If the rust is purely on the surface, this may be sufficient to remove it and will not cause any damage to your clubs.